- Don’t wait to talk to a mortgage lender and check your credit. Take care of any credit issues and prepare you finances to meet all the mortgage requirements early. Get pre-approved for mortgage financing and know what you are able to afford before you look at homes
- Don’t wait too long to buy. Many renters pay more for an apartment than they would pay for a mortgage payment. Don’t keep paying off someone else’s mortgage while you watch the real estate values climb. Homes often appreciate in value faster than you are able to save additional money for the down payment.
- Don’t buy more house than you can afford. Keep your payments within reason and have a backup plan for emergencies. Even though you qualify for a certain mortgage amount, you must feel comfortable with the payment.
- Don’t fall in love with the home for all the wrong reasons. Even though I mostly tell home sellers to use home staging strategies to sell for top dollar, my advice to home buyers is to look past all the staged glamour. Look at the bones of a fixer-upper home to see if you can turn it into your dream home.
- Don’t work with the wrong agent. Make sure the agent is working for you and they are obligated to represent your interests. I would love the opportunity to interview for the job of representing you.
- Don’t buy too far away from work. Drive the route during rush hour to test how you will feel, how much time it takes, and how much gas you buy. Your happiness outweighs the home’s amenities. Calculate gas expenditure versus transit savings for a closer home and add this amount to your possible mortgage payment.
- Don’t forget to get a home inspection by a licensed professional. They are skilled in being able to advise you on the true condition of the home’s major systems.
- Don’t misunderstand what comes with the property. Make sure you know what will be happening to the appliances, window coverings, light fixtures, and other items in the home. Make sure you know what parking is included. Know if the condo suite includes a separate storage locker.
Remember when you hire an agent they will ensure that all your questions are asked and answered